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Texas Vet Home Loans

Pre-qualify, learn, & get information and assistance for Texas Vet home loans.

Texas Vet HomeLoans

Why choose a Texas Vet Loan

The Texas Veterans Land Board (VLB) Veterans Housing Assistance Program offers qualified Texas Veterans and Active Military Members living in or moving to Texas an unbeatable, low-interest loan with little or no money down on primary residences in Texas.

Texas Veterans Land Board

The Texas Veterans Land Board (VLB), a division of the Texas General Land Office, administers the Texas State Veterans Homes loan program.

The Texas Veterans Land Board was created by the states Legislature in 1946. Then in 1983 the (TVLB) started doing home loans for those who plan to use the home for their Primary Residence.

These mortgages are available to Honorable discharged Veterans who served in the Marines, Army, Air Force, Navy, Coast Guard or the National Guard.

The Maximum home Loan Limit is $453,100.

Texas Vet Loan rates

All rates are fixed rate home mortgages. The rates are lower than traditional mortgage rates. The Veterans with Disabilities Discount applies to veterans with a 30% compensable disability by the United States Department of Veterans Affairs.

Current Texas Vet Loan Rates

Loan Terms:

Housing loans are available with 30, 25, 20 or 15 year terms. Home Improvement loans are available with 2 to 20-year terms.

Texas Vet Loan Types

A Texas Vet loan must be originated as a VA Loan, FHA or Conventional.

  • Texas Vet VA Loan
  • Texas Vet FHA Loan
  • Texas Vet Conventional Loan

Current Texas Vet Loan lending limits

  • VA Maximum Loan Limit is $453,100 (Zero Down) using VA Loan along with Texas Vet
  • FHA Maximum Loan Limit is $359,950 using FHA Loan along with Texas Vet
  • Conventional Maximum Loan Limit is $453,100 using Conventional Loan along with Texas Vet

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Are you wanting to Purchase or Refinance?

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What is your Military Status?

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What is your price range?

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What is your current credit score?

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Property Requirements for Texas Vet Loans

A VLB Home Loan may be used to purchase a home that meets these requirements:

  • Must be the veteran’s primary residence
  • Must be located in Texas
  • Must be a single family attached or detached home, town home, or condominium
  • Duplexes or other multi-family units must have been constructed at least five years prior to the closing date of the loan.
  • Manufactured / modular homes may be eligible. Contact the VLB or participating lender to confirm.
  • All new construction homes must meet:
    • The Environmental Protection Agency's (EPA) guidelines for ENERGY STAR® qualified homes, and must be ENERGY STAR® labeled and certified; OR
    • A HERS Index Score of 75 or less following the RESNET National Home Energy Rating Standards and must have an energy rating Certificate that documents the HERS Index score of 75 or less

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Disabled Veterans benefits for VA Loans and Texas Vet mortgages

There are a number of benefits for Veterans with disability ratings from VA from
the Veterans Affairs, Texas Veterans Land Board and the State of Texas.

The Veterans Housing Assistance (VHAP) and Home Improvement (VHIP) Programs offer an interest rate reduction to qualifying veterans with disabilities.

The veteran must have a compensable service-connected disability of 30% or greater as verified by an Award Letter from the Department of Veterans Affairs (VA). The amount of the regular 30 year fixed rate would be discounted by 1/2 a point.

The veteran must also meet all other eligibility requirements for the VHAP and VHIP.

Learn more about Disabled Veterans Benefits

What are the Credit requirements for a Texas Vet Loan?

All Texas Vet Land Board loans are subject to credit approval as determined by the lender.

The VHAP does not guarantee an interest rate on any loan. The interest rate on the VHAP loan will be determined at the time the rate lock is secured.

*Note: If more than one rate lock is obtained in a twelve-month period, the highest locked rate will prevail.

Can we use a Texas Vet Loan to Refinance?

No, the VHAP is not a refinancing program. If you have an existing loan on your home, you cannot use the VHAP to lower your interest rate, nor can the VHAP be used as a down payment on a home. It can only be used to obtain a purchase money loan with a first lien on your primary residence.

Do i have to set up an escrow account?

VHAP loans typically require an escrow account be set up for taxes and insurance.

All new-construction housing must be ENERGY STAR® labeled and certified.

All new-construction homes financed through the Texas Veterans Housing Assistance Program (VHAP) must meet the U.S. Environmental Protection Agency's (EPA) guidelines for ENERGY STAR® qualified homes. This includes completion of the Thermal Bypass Checklist, by a certified Home Energy Rating System (HERS) Rater, prior to wallboard being installed.

Cosigners and guarantors may be accepted on the veteran's behalf if the veteran has sufficient income to qualify for at least 60 percent of the monthly payments on the mortgage loan, including taxes and insurance.

How is the VLB funded?

Interest paid by veterans on the loans themselves and investment earnings make the program self-sufficient. No state tax revenue is used to fund the VLB programs. These programs are an innovative and cost effective way to reward veterans for their service and sacrifices.

Eligibility Requirements for Texas Vet Loans

Same as VA, plus:

To be eligible to participate in the Texas Veterans Loan Programs, an applicant must have:

  • Served no fewer than 90 cumulative days on active duty (including active duty for training) in the Army, Navy, Air Force, Marines, Coast Guard or United States Public Health Service (unless discharged sooner by reason of a service-connected disability), OR have enlisted or received an appointment in the National Guard or a reserve component of one of the listed branches of service after completing all initial active duty training requirements as a condition of enlistment or appointment, OR have completed 20 years in a reserve component so as to be eligible for retirement, OR served in the Armed Forces of the Republic of Vietnam between February 28, 1961 and May 7, 1975 (Home Loan Program or Home Improvement Program only).
  • Served after September 16, 1940.
  • Not been dishonorably discharged. A person who has been discharged from the branch of the service in which the person served or from the National Guard is considered not to have been dishonorably discharged if the person: (1) received an honorable discharge; (2) received a discharge under honorable conditions; or (3) received a discharge and provides evidence from the VA, its successor, or other competent authority that indicates that the character of the person's discharge has been determined to be other than dishonorable.
  • The applicant must be a bona fide resident of Texas at the time the application is made. (A ‘bona fide resident” is someone who is living in Texas with the intent to remain in Texas.) This may include a Texas resident currently serving on active military duty outside of Texas. Presence in Texas due solely to military service may not establish bona fide residency; however, submission of a filed copy of a DD2058 may establish residency.
  • Successfully repaid any previous Texas Veterans Land Board (VLB) loan. A loan is considered repaid when the account has been paid in full by the original veteran purchaser or last approved assignee. Any other active VLB loans must be in good standing. Veterans may have only one loan in each VLB program at the same time.
  • Note: The unmarried, surviving spouse of a Texas veteran who is missing in action (MIA) or who died in the line of duty or from a service-connected cause may be eligible to participate in the programs. The veteran’s home of record must have been Texas at the time of entry into the service, or the veteran must have been a legal resident of Texas at the time of death.

Every client's situation is different and handled with a unique, personalized approach. As a San Antonio, Texas based Mortgage Broker we focus on getting the right loan at the right rate for our client and it allows us to secure often hard-to-find financing.

Have a question about your particular mortgage goal, give us a call and speak with a mortgage specialist.

210-656-1134

Grove Mortgage Home Loans of San Antonio